Core Viewpoint - Barclays is expanding its operations in Saudi Arabia to strengthen its presence in the Middle East, having obtained a provisional license from the Capital Market Authority to initiate investment banking and global markets activities [1][5]. Group 1: Expansion Plans - Barclays plans to open an office in Riyadh by 2026, having acquired premises in the King Abdullah Financial District [1]. - The expansion is part of Barclays' strategy to enhance its footprint in the Gulf Cooperation Council (GCC), where it already operates in the UAE and Qatar [4]. Group 2: Leadership and Management - Mohammed Al-Sarhan has been appointed as the independent non-executive board chairman for the new branch in Saudi Arabia [2]. - The Middle East operations are managed by co-CEOs Khaled El Dabag and Walid Mezher, who have significant experience in investment banking [2][3]. Group 3: Strategic Importance - The new office will improve client services by being closer to key corporate, institutional, and sovereign wealth fund clients in Saudi Arabia [4]. - Barclays' CEO CS Venkatakrishnan emphasized that Saudi Arabia is central to the bank's Middle East growth strategy and aligns with the Kingdom's Vision 2030 [5].